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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Snowshoe who wrote (70860)	12/26/2008 8:01:11 PM
From: Maurice Winn	2 Recommendations Read Replies (2) \| Respond to of 74559

Well, that's pretty well the end of yet another year and the crash is still struggling to really get going. Northern Rock was going on two years ago and it's already over two years ago that peaks were in and the big market clearing got under way in earnest. That means outright cascading collapse is unlikely and the big crunch is more likely to be like the Y2K bust, though of greater amplitude and duration. Even in US$, gold is only about 3x where it was 8 years ago and significantly below where it was over quarter of a century ago. It's nowhere near as desperate as when the gold coins were hidden in the wall in Jerusalem over 1000 years ago under threat of genocidal invasion. TJ gets excited about the great advantage of using gold as savings and thinks of that as proof of gold's timeless success, but in thinking carefully about that particular stash of gold, it might has well have been simply thrown in a river because it was never used. Gold tends to be like that = hoarded and ignored, stolen, lost and otherwise ineffectual as actual usable money. Digging it up in Waihi at great expense and burying it in a well-guarded expensive hole under a Hong Kong bank is a pointless effort. If this crunch doesn't get going in earnest soon, I'm going to give up on it as a failure. This is like the little boy who called "Wolf!" Mqurice